Zacks Investment Research lowered shares of AXT Inc (NASDAQ:AXTI) from a buy rating to a hold rating in a research report sent to investors on Thursday, September 14th.
According to Zacks, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers. “
A number of other research analysts also recently commented on AXTI. Dougherty & Co reaffirmed a buy rating on shares of AXT in a report on Saturday, June 17th. BidaskClub raised shares of AXT from a hold rating to a buy rating in a report on Thursday, July 13th. B. Riley reissued a neutral rating and issued a $7.00 price objective on shares of AXT in a research note on Friday, July 21st. Finally, BWS Financial raised their price objective on shares of AXT from $10.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. AXT presently has an average rating of Buy and an average price target of $9.21.
Shares of AXT (NASDAQ AXTI) opened at 8.65 on Thursday. The company has a market cap of $331.96 million, a price-to-earnings ratio of 43.25 and a beta of 1.13. AXT has a 1-year low of $4.35 and a 1-year high of $9.50. The stock has a 50 day moving average price of $7.92 and a 200-day moving average price of $6.94.
AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. AXT had a net margin of 8.15% and a return on equity of 4.61%. The firm had revenue of $23.56 million during the quarter, compared to the consensus estimate of $22.55 million. During the same quarter last year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts forecast that AXT will post $0.24 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This article was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://stocknewstimes.com/2017/09/24/axt-inc-axti-downgraded-by-zacks-investment-research.html.
In other news, Director David C. Chang sold 9,000 shares of AXT stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $8.80, for a total transaction of $79,200.00. Following the completion of the sale, the director now owns 164,807 shares of the company’s stock, valued at $1,450,301.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Morris S. Young sold 92,896 shares of AXT stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.54, for a total transaction of $793,331.84. Following the sale, the chief executive officer now directly owns 1,213,200 shares of the company’s stock, valued at approximately $10,360,728. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of AXTI. Voya Investment Management LLC bought a new stake in shares of AXT during the second quarter valued at approximately $100,000. Gotham Asset Management LLC bought a new stake in shares of AXT during the first quarter valued at approximately $101,000. SG Americas Securities LLC bought a new stake in shares of AXT during the first quarter valued at approximately $105,000. Sanctuary Wealth Advisors LLC bought a new stake in shares of AXT during the first quarter valued at approximately $116,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of AXT during the first quarter valued at approximately $173,000. 61.87% of the stock is owned by hedge funds and other institutional investors.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AXT Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT Inc and related companies with MarketBeat.com's FREE daily email newsletter.